Question of the Day: What percent of kids have regular conversations with their parents/guardians about money?

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Jan 24, 2018
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Parent Conversations, Question of the Day

Answer: 61%

Questions

  • Do you have regular conversations with your parents/guardians about money?
    • What was the last conversation you had? Who started the conversation?
    • Whether you talk money or not, what makes it difficult to have those conversations?
  • If you could ask a parent/guardian one question about money what would it be?
  • Is this personal finance course an opportunity to engage with your parents in a conversation about money? How might you do that?
  • Is talking in class about personal finance easier or more difficult than talking with a parent/guardian? Why?

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (CNBC)

There is some evidence that barriers inside the family are breaking down, even if the money conversation sometimes doesn’t go as planned: While 73% of parents say they talk regularly with their kids about spending and saving, just 61% of kids agree, fund company T. Rowe Price found. And nearly half of parents say they strongly encourage their children to talk to them about money, but only one in five kids thinks that’s really the case.

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Looking for more ways to engage parents/guardians in conversations? Check out the NGPF blog posts tackling that challenge. 

 

 

 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.